Latest update April 20th, 2024 12:59 AM
Jun 13, 2017 News
The Ministry of Finance’s Student Loan Agency is to be engaged to manage the Housing Revolving Fund, according to Finance Secretary of the Ministry of Finance, Dr. Hector Butts.
Yesterday, Dr. Butts explained to the Public Accounts Committee (PAC), in Parliament Buildings, that no disbursement from the fund has been made because there is no suitable agency to manage it, according to a DPI/GINA release.
Established in 2011, the fund is an agreement between the government and the Guyana Teachers’ Union (GTU).
Currently there is $200M in the fund’s Bank of Guyana account which is earmarked to be loaned to teachers so that they can access low cost housing loans or procure their own house.
Dr. Butts noted that the Student Loan Agency is currently in the process of addressing “some problems right now with its systems”, particularly its records and that process is expected to be completed in June.
“After that we will be looking at the Student Loan Agency, once it handles itself, to perhaps take that on (Housing Revolving Fund) because they are involved in the issue of lending and receiving,” Dr Butts said.
The Housing Revolving Fund was an issue raised in the Auditor General’s 2015 Audit Report. Permanent Secretary of the Ministry of Education Vibert Welch also appeared before the PAC yesterday to answer questions in relation to a number of observations made in that report.
Where is the BETTER MANAGEMENT/RENEGOTIATION OF THE OIL CONTRACTS you promised Jagdeo?
Apr 20, 2024
– Elton Dharry and Dexter Marques to headline tonight’s card Kaieteur Sports – The Everest Cricket Club pavilion crackled with tension yesterday as the Guyana Boxing Board hosted its...Kaieteur News – Once a habit has been drilled into you, it returns almost automatically when you return to the setting... more
By Sir Ronald Sanders Waterfalls Magazine – On April 10, the Permanent Council of the Organization of American States... more
Freedom of speech is our core value at Kaieteur News. If the letter/e-mail you sent was not published, and you believe that its contents were not libellous, let us know, please contact us by phone or email.
Feel free to send us your comments and/or criticisms.
Contact: 624-6456; 225-8452; 225-8458; 225-8463; 225-8465; 225-8473 or 225-8491.
Or by Email: [email protected] / [email protected]